Originally published on: August 06, 2024
In an unexpected move, Vice President Kamala Harris has selected Minnesota Governor Tim Walz as her running mate for the upcoming 2024 US presidential election. This decision, reported by four insiders familiar with the matter and shared with CNN, has set the political stage abuzz.
Governor Walz is no stranger to the political arena, having served over 12 years in Congress before taking on his current role as Minnesota governor. Known for his regulatory-focused approach to various industries, including cryptocurrency, Walz’s stance on crypto regulations remains a mystery, leaving many in the industry speculating about the potential implications of this partnership.
Vice President Harris, too, has kept her cards close to her chest when it comes to crypto policy, creating an air of uncertainty around the industry’s future. Bitfinex analysts suggest that Harris’s choice of running mate could lead to increased regulatory scrutiny, adding an extra layer of intrigue to the unfolding political landscape.
This development comes on the heels of President Joe Biden’s surprising decision to step down from the 2024 presidential race, shifting the dynamics of the upcoming election. Despite Harris’s announcement, the odds currently favor former President Donald Trump, with over 53% of respondents betting on his victory compared to 46% betting on Harris, according to Polymarket.
As the world’s largest prediction market sees millions wagered on the candidates, the crypto industry watches closely, noting Trump’s perceived innovation-friendly stance. The industry’s fortunes have been known to fluctuate with political developments, making the 2024 election one to watch for crypto enthusiasts and investors alike.
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